PLANO, Texas, September 9, 2014 /PRNewswire/ — Argon Medical Devices, Inc. announced today that it has acquired Promex Technologies, LLC (d/b/a US Biopsy), a manufacturer of soft-tissue biopsy products including the TLAB® Transjugular Liver Biopsy Instrument (“TLAB”). The acquisition establishes Argon Medical as one of two companies competing in the transjugular liver biopsy market and completes its line of soft-tissue biopsy instruments. Argon Medical is a leading biopsy device manufacturer and the only company to offer a full-core biopsy instrument commonly used in percutaneous liver biopsies. With the addition of TLAB, Argon Medical now offers devices to collect liver samples using either percutaneous or transjugular access approaches.
“US Biopsy has been active in the transjugular liver biopsy market since the procedure was first pioneered in the 1990s. This unique experience was integral in designing TLAB with differentiated features that improve upon existing technologies,” said Argon Medical’s President, George Leondis. “This acquisition allows us to leverage our current soft tissue biopsy portfolio and further demonstrates our commitment to growth in the Interventional space.”
TLAB is designed with patented Flexcore® technology that allows the needle to flex to acute angles and still function consistently. This unmatched flexibility is essential in transjugular liver biopsy where the needle must bend to enter the hepatic vein coming from the liver and collect a specimen via the vessel wall. Patients who require a liver biopsy using this approach have, or are suspected to have, liver disease, which often causes the liver to harden over time making it more difficult to access. TLAB’s Flexcore® technology and sharp Tru-Track™ trocar needle tip allow the needle to enter tough liver tissue without diving or deviating from the track.
According to the American Liver Foundation, 1 in 10 Americans suffer from liver disease and the prevalence of liver diseases such as hepatitis C, non-alcoholic fatty liver disease, and liver cancer are on the rise. Additionally, up to 25% of Americans may have non-alcoholic fatty liver disease. These patients may require a liver biopsy for an accurate diagnosis and those patients who have abnormal blood coagulation or patients with a build-up of fluid in the abdomen (ascites) will likely require a transjugular liver biopsy.
With this acquisition, Argon Medical also secures US Biopsy’s disposable and reusable soft-tissue biopsy instruments, breast localization needles, and fine-needle aspiration needles.
About Argon Medical Devices
Founded in 1972, Argon Medical Devices, Inc. manufactures medical products and devices for interventional radiology, vascular surgery, interventional cardiology, critical care, and oncology procedures worldwide. Through a network of direct sales representatives and premier distributors, Argon supplies physician customers with breakthrough technologies to improve clinical efficiency and outcomes. Argon is a privately-held portfolio company of Roundtable Healthcare Partners, which is committed to providing clinicians with innovative, technology-driven solutions to improve patient outcomes.
The Argon Medical product portfolio is highlighted by the Option™ELITE retrievable IVC Filter, CLEANERXT™ and CLEANER15™ Rotational Thrombectomy Systems, Atrieve™ Vascular Snare, BioPince™ Full-core Biopsy Instrument, Skater™ Drainage Systems, T-Lok™ Bone Marrow Biopsy Needles and UltraStream™ Chronic Dialysis Catheters.
About RoundTable Healthcare Partners
RoundTable Healthcare Partners, based in Lake Forest, IL, is an operating-oriented private equity firm focused exclusively on the healthcare industry. The partners of RoundTable have significant experience in managing, operating, acquiring and financing multibillion-dollar diversified healthcare companies. RoundTable partners with companies that can benefit from its extensive industry relationships and proven operating and transaction expertise.